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OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers in the United States. The company accepts deposit products, such as money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, including brokered deposits. It also offers commercial real estate, multi-family, land loans, construction, and commercial and industrial loans; fixed-rate and adjustable-rate mortgage loans that are secured by one-to-four family residences; and consumer loans, such as home equity loans and lines of credit, student loans, loans on savings accounts, overdraft line of credit, and other consumer loans. In addition, the company invests in mortgage-backed securities, securities issued by the U.S. government and agencies, corporate securities, and other investments; and provides bankcard services, trust and asset management products and services, deposit account services, sales of loans and investments, bank owned life insurance and commercial loan swap income. The company was founded in 1902 and is headquartered in Toms River, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $400M | - | $71M | $80M | 4.3% | 5.4% | -29.1% |
| 2024 | $380M | - | $100M | $85M | 5.9% | -4.7% | -3.8% |
| 2023 | $399M | - | $104M | $117M | 6.3% | -7.6% | -29.0% |
| 2022 | $432M | - | $147M | $230M | 9.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 431.60 | 398.71 | 379.81 | 400.34 |
| Pretax Income | 193.92 | 136.76 | 130.66 | 92.52 |
| Tax Provision | 46.56 | 32.70 | 30.27 | 21.49 |
| Net Income | 146.60 | 104.03 | 100.06 | 70.98 |
| Net Income Common Stockholders | 142.59 | 100.01 | 96.05 | 67.13 |
| Interest Expense | 53.70 | 238.24 | 308.14 | 282.23 |
| Interest Income | 431.18 | 607.97 | 642.17 | 642.45 |
| Selling General And Administration | 142.22 | 151.20 | 154.46 | 176.60 |
| Normalized Income | 149.19 | 104.10 | 101.45 | 83.31 |
| Basic EPS | 2.43 | 1.70 | 1.65 | 1.17 |
| Diluted EPS | 2.42 | 1.70 | 1.65 | 1.17 |
| Tax Effect Of Unusual Items | -0.82 | -0.02 | -0.42 | -3.73 |
| Tax Rate For Calcs | 0.24 | 0.24 | 0.23 | 0.23 |
| Total Unusual Items | -3.40 | -0.09 | -1.80 | -16.06 |
| Total Unusual Items Excluding Goodwill | -3.40 | -0.09 | -1.80 | -16.06 |
| Net Income From Continuing Operation Net Minority Interest | 146.60 | 104.03 | 100.06 | 70.98 |
| Reconciled Depreciation | 16.48 | 16.40 | 14.54 | 14.41 |
| Net Interest Income | 377.48 | 369.73 | 334.04 | 360.22 |
| Net Income From Continuing And Discontinued Operation | 146.60 | 104.03 | 100.06 | 70.98 |
| Diluted Average Shares | 58.88 | 58.96 | 58.30 | 57.42 |
| Basic Average Shares | 58.73 | 58.95 | 58.30 | 57.42 |
| Diluted NI Availto Com Stockholders | 142.59 | 100.01 | 96.05 | 67.13 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | 1.84 |
| Preferred Stock Dividends | 4.02 | 4.02 | 4.02 | 2.01 |
| Minority Interests | -0.75 | -0.04 | -0.33 | -0.05 |
| Net Income Including Noncontrolling Interests | 147.36 | 104.06 | 100.39 | 71.03 |
| Net Income Continuous Operations | 147.36 | 104.06 | 100.39 | 71.03 |
| Special Income Charges | -3.45 | -0.09 | -1.78 | -15.78 |
| Restructuring And Mergern Acquisition | 3.45 | 0.09 | 1.78 | 15.78 |
| Gain On Sale Of Security | 16.75 | -2.99 | 5.10 | 4.57 |
| Depreciation Amortization Depletion Income Statement | 4.72 | 3.98 | 3.33 | 3.63 |
| Depreciation And Amortization In Income Statement | 4.72 | 3.98 | 3.33 | 3.63 |
| Amortization | 4.72 | 3.98 | 3.33 | 3.63 |
| Amortization Of Intangibles Income Statement | 4.72 | 3.98 | 3.33 | 3.63 |
| Selling And Marketing Expense | 2.95 | 4.24 | 5.17 | 5.65 |
| General And Administrative Expense | 139.27 | 146.96 | 149.30 | 170.95 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 7.36 | 11.16 | 10.96 | 11.60 |
| Salaries And Wages | 131.91 | 135.80 | 138.34 | 159.35 |
| Operating Revenue | 431.60 | 398.71 | 379.81 | 400.34 |
| Occupancy And Equipment | 25.80 | 25.84 | 25.06 | 26.47 |
| Professional Expense And Contract Services Expense | 12.99 | 18.30 | 9.48 | 15.09 |
| Other Non Interest Expense | 40.73 | 44.86 | 47.35 | 54.08 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| OceanFirst Financial Corp.this co. | OCFC | $1.1B | 16.00↑ premium | 0.65 | 4.3% | - |
| Safety Insurance Group, Inc. | SAFT | $1.1B | 11.25 | 1.25 | 11.1% | - |
| Porch Group, Inc. | PRCH | $1.1B | - | -43.48 | -15.0% | 19.23 |
| Metropolitan Bank Holding Corp. | MCB | $1.1B | 10.96 | 1.20 | 9.6% | - |
| Universal Insurance Holdings, Inc. | UVE |
| $1.1B |
| 5.80 |
| 1.99 |
| 33.2% |
| 2.18 |
| Old Second Bancorp, Inc. | OSBC | $1.1B | 12.28 | 1.20 | 9.0% | - |
| Burford Capital Limited | BUR | $1.1B | 17.32 | 0.43 | 2.0% | - |
| Northeast Bank | NBN | $1.1B | 11.96 | 1.87 | 16.9% | - |
| Strive Asset Management, LLC | ASST | $1.0B | - | 1.11 | -92.5% | -4.30 |
| Peer Median | - | 11.60 | 1.20 | 9.3% | 2.18 | |